Purchase

Buying a Home with a Native American Mortgage:

A Section 184 Native American Loan Offers Many Benefits to Home Buyers

Buying a new home can be a very rewarding experience.  As a home buyer, there is a lot you need to know and selecting the right loan is definitely one of them. If you are eligible, a Section 184 Native American Loan is one of the best loan programs available, even for first time home buyers.

Purchase A Home With A Smaller Down Payment

Now more than ever banks are requiring large down payments, many loan programs require 10-20% down, putting home ownership out of reach for many prospective home buyers. A Section 184 Native American Loan is perfect for home buyers because the borrower can finance 97.75% of the home’s purchase price and buy that home with a small down payment of only 2.25%.

Save Hundreds of Dollars Every Single Month

Because the loan is a benefit to members of a federally recognized tribe, a Section 184 Native American Loan has monthly mortgage insurance that is less when compared to other programs. Interest rates for Section 184 Native American Loans typically match conventional loans or can be lower in many situations. These two advantages add up to significant monthly savings.

It’s Easier to Qualify for a for Section 184 Native American Loan

It’s no secret, getting approved for a conventional home loan these days can be very difficult, particularly for young families and first time home buyers. Because the government backs the Section 184 Native American Loan, the credit and income standards are not as strict making the loan qualification process easier.

The advantages are real. A lower monthly payment, easier qualification guidelines and the ability to purchase with a smaller down payment make a Section 184 Native American Loan the best option for members of a federally recognized tribe.

Do I Qualify?

The Native American Home Loan Advantage

Am I Eligible?

Obtaining a Native American mortgage is simple!

The primary qualification of the Section 184 Native American Loan benefit is membership of a federally recognized tribe. Eligible borrowers are Indians or Indian family members over the age of 18 who will occupy the property as a principal residence.

If you are considering a Section 184 Native American Home Loan, the fastest and easiest way to find out if you are eligible is to contact a Native American Mortgage Specialist who can help you determine your eligibility, qualification level, and program options.

Get Qualified More Information

Section 184

news & info

  • Section 184 Mortgage, New Annual Insurance Premium 11/15/2014

    Posted November 14th, 2014 ~By Scissortail Financial All Section 184 case numbers issued on or after November 15, 2014 for the Section 184 Native American Mortgage home loan program , will be subject to an annual loan guarantee premium of 0.15 percent. This premium is in ... READ MORE
  • The wait is over, refinance funds will be available 04/04/2014

    Posted March 18th, 2014 ~By Scissortail Financial Effective Friday April 4th, 2014 – The Section 184 Native American Mortgage home loan program  will resume issuing case numbers for refinances on fee simple land. This means that the Section 184 program will again be ... READ MORE
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